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All posts by BusinessNews Staff

  • Why external reserves can’t be depleted for salaries, infrastructure – CBN

    The Central Bank of Nigeria (CBN) has said it is impossible to utilise the country’s External Reserves for infrastructural development as well as payment of workers’ salaries as being canvassed in some quarters. It maintained that the...

    • Posted August 3, 2015
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  • Falling naira: Manufacturers cut production by 50%

    Some manufacturers have cut production by more than 50 per cent as the sector grapples with the current economic realities of continued drop in naira value and escalating production costs. The President of the Lagos Chamber of...

    • Posted August 3, 2015
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  • Lagos, engine room of Nigeria’s development – Ambode

    Lagos State Governor, Mr. Akinwunmi Ambode, has described the state as the engine room for the growth and development of Nigeria. Ambode said this on Sunday when he led lawmakers and leaders of the All Progressives Congress...

    • Posted August 3, 2015
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  • FG spent N2b to rebase economy – CBN

    Facts are beginning emerge on what it cost the administration of former President Goodluck Jonathan to rebase the Nigerian economy, as the Director of Monetary Policy at the Central Bank of Nigeria, CBN, Mr. Moses Tule, has...

    • Posted August 2, 2015
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  • Nigerians groan as petrol sells above N110 nationwide

    Millions of Nigerians are complaining as petrol sells above N110 and queues by motorists continue to grow across the country. This is against an official price of N87 per litre as the Federal Government subsidises Premium Motor...

    • Posted August 2, 2015
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  • Kaduna Refinery begins production, to hit 2m litres daily by October

    The Kaduna Refining and Petrochemicals Company (KRPC), is now refining of about 60,000 barrels of crude per day following the rehabilitation of two of the company’s production lines. The company said it was currently working with a...

    • Posted August 2, 2015
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  • ECOWAS Bank renews president’s tenure

    The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) which comprises Finance Ministers from the 15-Member States of the Economic Community of West African States (ECOWAS), has  renewed the tenure of the President...

    • Posted August 2, 2015
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  • FG may renew charges on illegal aircraft charter operators

    Feelers from the Ministry of Aviation indicate that the charges imposed on illegal private charter operators by outgone Goodluck Jonathan administration may still subsist under the present administration to discourage foreign registered aircraft from operating in the...

    • Posted August 1, 2015
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  • IPMAN wants NNPC to stop sending members’ petrol allocation to Capital Oil

    Based on its accusation of fraudulent practices against Capital Oil and Gas, the Independent Petroleum Marketers Association of Nigeria (IPMAN), has asked the Nigerian National Petroleum Corporation (NNPC) to stop sending members’ allocation of petrol to the...

    • Posted August 1, 2015
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  • Dangote Cement declares N121.8bn half-year profit

    Dangote Cement Plc achieved a profit after tax of N121.808 in the six-month period ended June 30,2015, the company’s condensed consolidated statement of profit or loss and other comprehensive income for the period showed. The figure was...

    • Posted August 1, 2015
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